By Samuel Ssebuliba:
Hearing of the case between Bank of Uganda and property mogul Sudir Ruparelia kicks off today at the Commercial Court.
The head of the Commercial Court Justice David Wangututsi is set to hear three applications that have since arisen from the original suit logged by Bank of Uganda, including a request by its lawyers to be allowed to file their response to Ruparelia’s countersuit.
The Central Bank sued Ruparelia and his Meera investments in July, accusing the tycoon of fleecing the then Crane Bank of Shs397bn in disputed transactions, a claim the businessman denies in a countersuit filed in the High Court recently.
In his countersuit, Ruparelia accuses BOU lawyers MMAKS Advocates and AF Mpanga Advocates of conflict of interest and faults Bank of Uganda for breach of Confidential Settlement and Release Agreement.